Gokul Rajaram Sells 1,145 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $97.68, for a total value of $111,843.60. Following the transaction, the director now directly owns 9,413 shares in the company, valued at $919,461.84. The sale was disclosed in a filing with the SEC, which is available through this link.

Gokul Rajaram also recently made the following trade(s):

• On Thursday, October 19th, Gokul Rajaram sold 1,145 shares of Coinbase Global stock. The stock was sold at an average price of $74.34, for a total value of $85,119.30.
• On Thursday, September 21st, Gokul Rajaram sold 1,145 shares of Coinbase Global stock. The shares were sold at an average price of $74.38, for a total transaction of $85,165.10.

Coinbase Global Trading Up 7.1 %

COIN stock opened at $106.10 on Tuesday. Coinbase Global, Inc. has a 52-week low of $31.55 and a 52-week high of $114.43. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company’s 50-day simple moving average is $80.44 and its 200-day simple moving average is $76.38. The firm has a market cap of $25.38 billion, a P/E ratio of -32.85 and a beta of 2.65.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. raised its position in shares of Coinbase Global by 3.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock worth $282,000 after purchasing an additional 125 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after purchasing an additional 125 shares during the last quarter. Windle Wealth LLC raised its position in shares of Coinbase Global by 2.5% during the 3rd quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange’s stock worth $393,000 after purchasing an additional 126 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Coinbase Global by 3.1% during the 2nd quarter. D.A. Davidson & CO. now owns 4,571 shares of the cryptocurrency exchange’s stock worth $327,000 after purchasing an additional 136 shares during the last quarter. Finally, AJ Wealth Strategies LLC raised its position in shares of Coinbase Global by 1.7% during the 2nd quarter. AJ Wealth Strategies LLC now owns 8,589 shares of the cryptocurrency exchange’s stock worth $615,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of Coinbase Global from $70.00 to $68.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 10th. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Coinbase Global in a research report on Tuesday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $107.00 target price on shares of Coinbase Global in a research report on Thursday, August 17th. Canaccord Genuity Group upped their target price on Coinbase Global from $70.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Bank of America cut their target price on Coinbase Global from $63.00 to $60.00 in a research report on Thursday, October 12th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.64.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.